Mapletree Investments has acquired an additional 18.6ha in the $2bn Crestmead Logistics Estate for a third stage of their business park.
In a deal worth $53m, Mapletree’s success in previous stages gave them confidence to expand supply in the Logan Motorway corridor with an additional 84,000m² of logistics facilities.
Two high specification logistics buildings totalling 37,800m² are due for completion in stage 2 of Mapletree Logistics Park in October this year.
The second stage of Mapletree Logistics Park in Crestmead is being marketed by CG Property’s Michael Callow and Ben Clarke with Colliers’ Nicholas Evans and David Brisk.
Mr. Callow said, “With vacancy rates around Brisbane at sub 1%, the additional 37,800sqm will deliver much needed supply to the Logan Motorway Corridor. The specifications are market leading and tenants can choose from a range of sizes. From a connectivity perspective, this is Brisbane’s premier logistics region”.
Mr. Evans added, “We have seen many users relocate to the Logan Motorway to get better access to staff and excellent access to motorway corridors. The Mapletree Logistics Park offers a perfect blend of cutting-edge warehouse efficiency and connectivity to transport routes and to staff.”
Crestmead Logistics Park is set to have about 1 million square meters of logistics and warehousing space, with key tenants including Bunnings, Visy, Phoenix Transport and Nick Scali.